TBA Studios earmarks P500M to boost industry

TBA Studios is investing P500 million in the next three to five years, as its officials predict the local film industry will be buoyed up by a growing Philippine economy.

In a media roundtable in Makati City on Thursday, TBA Studios co-CEO Eduardo Rocha noted that the film production firm's investment is not necessarily aimed at grossing in the box office but to elevate the quality of Filipino movies to reach the international audience.

For his part, TBA Studios president Vincent Nebrida said the company is planning to produce around three to four films a year as it banks on the opportunities in the industry on the back of a growing economy.

"My forecast is as the Philippine economy grows, so well the movie industry... There is so much opportunity for filmmakers today even if many think that the local film industry is struggling," Nebrida said.

TBA Studios is composed of Tuko Film Productions Inc., Buchi Boy Entertainment and Artikulo Uno Productions. The company was behind the critically-acclaimed Heneral Luna, Birdshot, and Goyo.

Rocha noted that Heneral Luna alone grossed more than P300 million.

TBA Studios is also in negotiations with both foreign and local film companies for potential collaborations. — MDM, GMA News